this post was submitted on 17 Nov 2024
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LOL, LMAO even.
I went over this last month https://lemmy.ml/post/21682024/14466154
Not only that, but Global North countries are skirting their own sanctions to trade with Russia on the sly.
It's almost like nations are motivated by self interest, and not some over-arching political polarization.....
The majority of countries utilizing CIPS isn't because they're trying to create a multipolar geopolitical future. It's because it's simply a good idea to diversify your reserve currency, especially if your currency is unstable. In all likelihood if the yuan is able to show long periods of stability, the global South will be operating within SWIFT and CIPS.
The BANCOR idea is just wishful thinking, no one is migrating back to some kind of gold standard anytime soon.
SWIFT already handles a diversity of currencies including Renminbi, so that’s not what CIPS is about. Everyone knows what it’s about: an alternative to the imperial core’s transaction system.
Implying that BANCOR is anything like a gold standard only shows that you don’t have even a Wikipedia-level understanding of BANCOR.
Swift handles customer-initiated and institutional payments but excludes trade. Foreign currency reserves are mainly for trading between countries.
World systems theory is an abstract concept, that doesn't account for an anti imperialist movement. Just take it from Immanuel Wallerstein, the person who created it.
"There are today no socialist systems in the world-economy any more than there are feudal systems because there is only one world system. It is a world-economy and it is by definition capitalist in form"
By the theory you are utilizing, China is not an alternative to "the imperial core" it's trying to take the belt.
Lol, BANCOR was named after French for Bank Gold. It is a standardized monetary system for trade based on gold.
So then the global north also supports Russia? Of course not.
You've only proven that nobody has strong principles at all, here.
By saying “only,” you’re implying that these facts don’t matter, when they clearly do matter. This is the real, material world, not the Marvel Cinematic Universe. Facts on the ground don’t care about your principals.
Or yours, mate.
That's the whole problem with trying to break down geopolitics into set polarized factions. It makes annotating history a bit easier, but it completely forgoes any nuance.
I think a lot of people on Lemmy do it for emotional reasons, too. They can't handle a grey-on-grey world, they need it to be black and white.
Yeah, the global south actually hates each other.